A large amount of Bitcoin (BTC) inflows and outflows continue to be observed in the wallets of Binance, the world’s largest cryptocurrency exchange.
According to on-chain data, a large amount of Bitcoin inflows and outflows were observed in Binance wallets. The first major transaction is approx. 2 billion dollars worth 127k BTC Binance has access to cold wallets. Source of these assets according to the data BTCB comes from reserves. BTCB, BNB Chain (Binance Smart Chain) It refers to the token indexed to Bitcoin on it. After this exit, a significant decrease was observed in BTCB volume.
About 1 hour after 127k BTC login 1.3 billion dollars worth 82k Bitcoinreturned to BTCB reserves. Although the stock market has not yet made a statement about these voluminous transfers, which started to attract attention as of yesterday, the transactions are thought to be related to a regulation within the stock market. At this point, either by Binance or inner wallet arrangement being done or to a cold wallet used as proof of reserve Bitcoin transfer is in progress.
Binance has taken serious steps towards full reserve proof and transparency following the recent FTX bankruptcy. Over time, all assets kept in their cold wallets Merkle Tree Stating that it will prove it with its system, Binance led other exchanges to take steps in this regard.